Cement News tagged under: corporate
YTL confirms purchase19 July 2004, Published under Cement NewsYTL Cement Bhd is buying a 32.1 per cent stake in Perak-Hanjoong Simen Sdn Bhd (PHS) – the country’s second largest integrated cement producer – from Doosan Heavy Industries & Construction Co Ltd for RM75.25mil cash. In a statement to Bursa Malaysia yesterday, YTL Cement said it had entered into an agreement with South Korea-based Doosan to acquire 107.5 million shares in PHS, which operates two plants in Padang Rengas, Perak, and a cement depot and packing plant in Batu Caves, Selangor. ... |
Profit clarification at TPI16 July 2004, Published under Cement NewsTPI Polene Public Company Limited (TPIPL) would like to clarify net profit changes greater than 20% for the unreviewed financial statements of the Company for the second quarter ended June 30, 2004, as follows: - In Q2/2004, TPIPL and its subsidiaries had normal operating profit of Baht 701 million, an increase of 43.35% from Baht 489 million in Q2/2003. Net profit in Q2/2004 was totaled Baht 486 million, decreased by 57.45% from net profit of Baht 1,143 million in the same period of the... |
SCC earnings remain strong16 July 2004, Published under Cement NewsSCC is expected to announce impressive 2Q04 earnings results with a normalised profit of Bt6,008mn (EPS Bt5.01) down 16% qoq, but strongly up 71% yoy. These impressive earnings are due to strong petrochemical prices with high margin spreads, as well as higher demand for cement driven by strong local construction. SCC has also continued to lower debt and servicing costs resulting in lower interest expenses. SCC prospects remain bright due to (1) the cement business is expected to benefit ... |
Lafarge extends debt16 July 2004, Published under Cement NewsThe many bond buy-backs and exchange offers currently being offered were approaching completion yesterday, with Lafarge, the French cement producer, completing its offer to extend its debt maturity. Lafarge swapped Euros 560m of its 2008 bonds for Euros 612m of a new 2014 issue. BNP Paribas and HSBC managed the exchange offer. |
Saudi Arabian Cement Co H116 July 2004, Published under Cement NewsSaudi cement producer Arabian Cement Company (ACC) posted a net profit of 192 mln Saudi riyals ($51.2m) for the first half of 2004, up by 69.6 per cent year-on-year. ACC’s sales stood at 283.4 mln riyals ($75.6m), up 4.1 per cent, while operating revenue rose 5.0 per cent to 111.2 mln riyals ($29.7m). The company’s total assets stood at 1.437 bln riyals ($383m), up 5.9 per cent, and shareholders’ equity increased 6.0 per cent to 1.356 bln riyals ($362m). ACC, based in Jeddah, western Saudi ... |
China’s Xinjiang Tunhe Investment16 July 2004, Published under Cement NewsXinjiang Tunhe Investment Co Ltd, one of the three listed companies under the control of embattled private investment firm Xinjiang Delong Group, and its subsidiary Xinjiang Tianshan Cement Co Ltd, said they expect to report net losses for the first six months of this year. In a statement to the Shanghai Stock Exchange, Xinjiang Tunhe said it expects to post a net loss in the first half, due to its poor performance and investment losses. It made a net profit of 17.65 mln yuan in the same pe... |
Eastern Cement earns SR157m15 July 2004, Published under Cement NewsEastern Cement Co. has gained net profit of more than SR 157m, out of which SR 18m are from sale of the company’s investments. The six month profit are 19% more compared to the profits of the corresponding period, in the previous year. The profits for the second quarter of the current year also exceeded by 67% the profits gained in the 1st quarter of 2003 . The General Manager of the Eastern Cement, Dr. Zamil Bin Abdul Rahman Al Moqren said that the company has started implementing the... |
Jaypee to set up cement plant in HP15 July 2004, Published under Cement NewsJaypee group is setting up a 2.5Mt cement plant in Himachal Pradesh. The new project, estimated to cost about Rs 600 crore, will be among the largest-capacity cement plants in North. The new plant will catapult Jaypee group to the fourth-largest player in the cement sector, with a combined capacity of about 10Mta. In the northern market including Uttar Pradesh and Madhya Pradesh, Jaiprakash Associates would become the No 1 player once its new cement plant goes on-stream. Grasim (along ... |
Cementos Molins launches bid15 July 2004, Published under Cement NewsSpanish Catalan cement manufacturer Cementos Molins and subsidiary Cementos Molins Industrial have launched a bid for 43 per cent of shares in the company worth 278.84m euros. The aim of the operation is to buy 4,609,000 shares in the company in order to acquire the 40.9 per cent of capital in the company owned by French counterpart Lafarge. Cementos Molins will then reduce its capital and amortise the shares bought. |
TXI reports 4Q results, USA14 July 2004, Published under Cement NewsTexas Industries, Inc reported net income of US$37.6m (US$1.59 per share) for the quarter ended May 31 2004. The same quarter last year showed a loss of US$7.6m (US$.36 per share). "The trend of improving margins continued in the fourth quarter," stated Mel Brekhus, Chief Executive Officer. "Realised steel prices climbed by 33 per cent compared to the third quarter, outpacing unprecedented increases in raw material costs. Cement price increases announced earlier in the calendar year are ... |